|
|
|
MIRA INFORM REPORT
|
Report No. : |
486175 |
|
Report Date : |
13.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SOFTGEL HEALTHCARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Old No.7, New No.15, Gopalakrishnan Road, T. Nagar, Chennai – 600017,
Tamilnadu |
|
Tel. No.: |
91-44-23452030 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
23.10.2003 |
|
|
|
|
Com. Reg. No.: |
18-051829 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 285.111 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231TN2003PTC051829 |
|
|
|
|
IEC No.: |
0404009034 |
|
|
|
|
GSTIN/UIN : |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS6272L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Pharmaceutical Products. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
USD 830000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2003. The company is a manufacturer
of soft gelatin capsules for Rx, OTC and nutraceuticals. Management has not filed its financial record with government
department for the year 2017 and same are not available from any other
sources. For the financial year ended 2016, the company has observed a fair
growth of 8.03% in its revenue as compared to the previous year and has
achieved an average net profit margin of 5.82%. The company has adequate networth base and low debt balance sheet profile. However, rating is constrained on account of low reserve base. Business is active. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 13.01.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Sivasamy Nadar Manohar |
|
Designation : |
Director |
|
Contact No.: |
91-7373251777 |
|
Date : |
12.01.2018 |
Management Non-Cooperative (91-44-23452030 / 34)
Given number i.e. 91-9381007669 – Switch
off.
LOCATIONS
|
Registered Office : |
Old No.7, New No.15, Gopalakrishnan Road, T. Nagar, Chennai – 600017,
Tamilnadu, India |
|
Tel. No. : |
91-44-23452030-34 |
|
Mobile No. : |
91-7373251777 (Mr. Sivasamy Nadar Manohar) |
|
Fax No. : |
91-44-23452034 / 23452036 / 27475857 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Survey No:20/1, Vandalur - Kelambakkam Road, Pudupakkam
Village - 603103, Kancheepuram, Tamilnadu, India |
|
Tel. No. : |
91-73732-51777 / 52777 / 53777 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sulaiman Abdulhai Mohammed |
|
Designation : |
Managing director |
|
Address : |
Old No 16. New No 33/1, Kannadasan Road, T. Nagar, Chennai – 600017,
Tamilnadu, India |
|
Date of Birth/Age : |
01.05.1951 |
|
Qualification : |
B. Pharm |
|
Date of Appointment : |
23.10.2003 |
|
PAN No.: |
AAGPS0218J |
|
DIN No.: |
01186491 |
|
|
|
|
Name : |
Mr. Kannappan Nagappan |
|
Designation : |
Director |
|
Address : |
2nd The South Gate 35, Kasturi Ranga Road, Alwarpet,
Chennai – 600018, Tamilnadu, India |
|
Date of Birth/Age : |
01.06.1952 |
|
Date of Appointment : |
10.03.2014 |
|
DIN No.: |
05216579 |
|
|
|
|
Name : |
Mr. Krishnamurthy Balakumar |
|
Designation : |
Director |
|
Address : |
27A/11A, Moosa Street, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
Date of Birth/Age : |
13.09.1952 |
|
Date of Appointment : |
10.03.2014 |
|
DIN No.: |
05215155 |
|
|
|
|
Name : |
Mr. Alagappan |
|
Designation : |
Director |
|
Address : |
21/22, Lake Area, 5th Cross Street, Nungambakkam, Chennai – 600034, Tamilnadu, India |
|
Date of Birth/Age : |
02.06.1953 |
|
Date of Appointment : |
01.01.2015 |
|
PAN No.: |
AAIPG6911C |
|
DIN No.: |
05215147 |
|
|
|
|
Name : |
Mr. Sivasamy Nadar Manohar |
|
Designation : |
Director |
|
Address : |
25, Kamala Nagar, Madurai – 625002, Tamilnadu, India |
|
Date of Birth/Age : |
15.03.1953 |
|
Date of Appointment : |
16.02.2009 |
|
DIN No.: |
01057515 |
|
|
|
|
Name : |
Mr. Rajendran Patricea |
|
Designation : |
Whole-time director |
|
Address : |
No.18-B, Perumal Puram, Phase Iii, Puthur Village, Mappedu, Chennai –
600126, Tamilnadu, India |
|
Date of Birth/Age : |
31.07.1972 |
|
Date of Appointment : |
23.02.2015 |
|
|
AMMPP2852M |
|
DIN No.: |
07104652 |
|
|
|
|
Name : |
Mr. Sampath Kumar |
|
Designation : |
Whole-time director |
|
Address : |
Old No. 6 New No. 8, Valmiki Street, Perungalathur, Chennai – 600063,
Tamilnadu, India |
|
Date of Birth/Age : |
14.10.1959 |
|
Date of Appointment : |
23.02.2015 |
|
DIN No.: |
07104657 |
KEY EXECUTIVES
|
Name : |
Mr. Roopah Krishnamachari |
|
Designation : |
Company Secretary |
|
Address : |
B 2702, Bridgewood, House of Hiranandani,
5/63, Rajiv Gandhi Salai, Egattur, Chennai – 603103, Tamilnadu, India |
|
Date of Appointment : |
29.06.2017 |
|
PAN No.: |
BQDPR5085C |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
A.M.
Sulaiman |
|
650000 |
|
N.
Meenakshy |
|
1000000 |
|
B.
Mangaleshwari |
|
920000 |
|
A.
L Gandhimathi |
|
650000 |
|
S.
Manohar |
|
610000 |
|
Doppler
Scan |
|
100000 |
|
Maral
Labs |
|
12066074 |
|
The
Madras Pharmaceuticals |
|
9195000 |
|
Alagappan |
|
800000 |
|
S. Humayun |
|
800000 |
|
B. Vijay |
|
530000 |
|
K Nagappan |
|
450000 |
|
M Chitra |
|
740000 |
|
|
|
|
|
Total |
|
28511074 |
Equity Share Break up (Percentage of Total Equity)
AS ON 19.09.2016
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
25.43 |
|
Promoters [Others
(Beneficial owner of Partnership firm)] |
74.57 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Pharmaceutical Products. [Registered Activity] |
||||
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
|||||||||||||||||||||||||||
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|
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|
Bankers : |
·
DBS Bank Limited, 806, Anna Salai, Chennai – 600002,
Tamilnadu, India |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
N Rajaraman and Associates Chartered Accountants |
|
Address : |
No.100, 1st
Floor, 3rd Cross Street, Sundar Nagar, Guindy, Chennai – 600032,
Tamilnadu, India |
|
PAN
No.: |
AAAFR5096B |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
· The Madras Pharma · Accent Pharma · Maral Labs ·
Sunberg Life Sciences Private Limited |
|
|
|
|
Others : |
· Steril-Gene Life Sciences Private Limited · Lloyd Laboratories Inc. · Tristar Formulations Private Limited · Ocean Health And Medical Private Limited |
CAPITAL STRUCTURE
AS ON 19.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28511074 |
Equity Shares |
INR 10/- each |
INR 285.111 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
285.111 |
285.111 |
285.111 |
|
(b) Reserves & Surplus |
6.589 |
(35.236) |
(71.795) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
291.700 |
249.875 |
213.316 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.867 |
3.534 |
50.704 |
|
(b) Deferred tax liabilities (Net) |
12.525 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
13.392 |
3.534 |
50.704 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
121.215 |
107.070 |
134.805 |
|
(b) Trade
payables |
95.432 |
97.747 |
137.623 |
|
(c) Other
current liabilities |
9.476 |
34.011 |
35.314 |
|
(d) Short-term
provisions |
20.233 |
5.971 |
13.240 |
|
Total Current
Liabilities (4) |
246.356 |
244.799 |
320.982 |
|
|
|
|
|
|
TOTAL |
551.448 |
498.208 |
585.002 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
190.290 |
212.621 |
220.282 |
|
(ii)
Intangible Assets |
0.114 |
0.215 |
0.912 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
35.000 |
20.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
15.984 |
10.116 |
5.787 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
241.388 |
242.952 |
226.981 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
91.153 |
112.370 |
121.209 |
|
(c) Trade
receivables |
176.573 |
116.563 |
220.528 |
|
(d) Cash
and cash equivalents |
13.547 |
12.105 |
7.852 |
|
(e)
Short-term loans and advances |
16.751 |
2.334 |
2.310 |
|
(f) Other current
assets |
12.036 |
11.884 |
6.122 |
|
Total
Current Assets |
310.060 |
255.256 |
358.021 |
|
|
|
|
|
|
TOTAL |
551.448 |
498.208 |
585.002 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
707.988 |
655.332 |
535.145 |
|
|
Other Income |
1.051 |
0.639 |
0.420 |
|
|
TOTAL |
709.039 |
655.971 |
535.565 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
360.028 |
333.977 |
301.081 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
9.554 |
12.541 |
(3.242) |
|
|
Employee benefit expense |
71.531 |
59.104 |
47.932 |
|
|
Other expenses |
152.142 |
160.341 |
127.732 |
|
|
Exceptional items |
0.652 |
0.698 |
0.698 |
|
|
TOTAL |
593.907 |
566.661 |
474.201 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
115.132 |
89.310 |
61.364 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
6.238 |
10.990 |
14.023 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
108.894 |
78.320 |
47.341 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
41.443 |
40.557 |
29.756 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
67.451 |
37.763 |
17.585 |
|
|
|
|
|
|
|
Less |
TAX |
26.278 |
1.903 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
41.173 |
35.860 |
17.585 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
275.180 |
256.598 |
187.035 |
|
|
TOTAL EARNINGS |
275.180 |
256.598 |
187.035 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
101.114 |
114.033 |
99.570 |
|
|
Capital Goods |
5.390 |
15.479 |
2.959 |
|
|
TOTAL IMPORTS |
106.504 |
129.512 |
102.529 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.44 |
1.26 |
0.62 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
2.668 |
5.729 |
20.503 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
42.521 |
141.207 |
4.279 |
|
Net cash flows from (used in) operating activities |
27.717 |
139.360 |
3.754 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
91.03 |
64.92 |
150.41 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.01 |
5.62 |
2.43 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
96.75 |
106.83 |
166.84 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.26 |
0.79 |
0.51 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.60 |
0.42 |
0.28 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.45 |
0.51 |
0.67 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.43 |
0.47 |
0.97 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.84 |
0.98 |
1.50 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.65 |
0.85 |
1.04 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
18.46 |
8.13 |
4.38 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
5.82 |
5.47 |
3.29 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.47 |
7.20 |
3.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
14.11 |
14.35 |
8.24 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.26 |
1.04 |
1.12 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.89 |
0.58 |
0.74 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.53 |
0.50 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.44 |
0.41 |
0.72 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.26 |
1.04 |
1.12 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
285.111 |
285.111 |
285.111 |
|
Reserves & Surplus |
(71.795) |
(35.236) |
6.589 |
|
Net
worth |
213.316 |
249.875 |
291.700 |
|
|
|
|
|
|
Long-term borrowings |
50.704 |
3.534 |
0.867 |
|
Short term borrowings |
134.805 |
107.070 |
121.215 |
|
Current maturities of
long-term debts |
20.503 |
5.729 |
2.668 |
|
Total
borrowings |
206.012 |
116.333 |
124.750 |
|
Debt/Equity
ratio |
0.966 |
0.466 |
0.428 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
535.145 |
655.332 |
707.988 |
|
|
|
22.459 |
8.035 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
535.145 |
655.332 |
707.988 |
|
Profit/ (Loss) |
17.585 |
35.860 |
41.173 |
|
|
3.29
% |
5.47
% |
5.82
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BRIEF DESCRIPTION OF THE COMPANYS WORKING
DURING THE YEAR
Company has recorded a marginal increase in turnover of 8 % when compared to previous year and has been able to make a considerable profit in the year. Directors are hopeful of further growth in the operational performance of the company in the coming years.
DEVELOPMENTS:
Their Company has so far received
Regulatory Approvals (for CGMP compliance) from the following agencies:
|
Sl. No. |
Agency name |
Country |
|
1.
|
Pharmacy and Poisons Board |
Kenya |
|
2.
|
National Drug Authority |
Uganda |
|
3.
|
Ministry of Health |
Ukraine |
|
4.
|
Tanzania Food and Drug Agency |
Tanzania |
|
5.
|
Health Product and Food Branch Directorate |
Canada |
|
6.
|
National Agency for Food and Drug Administration and control (NAFDAC) |
Nigeria |
|
7.
|
Bureau of Foods and Drug Authority |
Philippines |
|
8.
|
Ministry of Health |
Sri Lanka |
|
9.
|
Pharmacy Medicines and Poisons Board |
Malawi |
|
10. |
Medicines and Healthcare products Regulatory Agency |
UK |
|
11. |
Department of Health and Ageing Therapeutic goods Administration Australian Government |
Australia |
|
12. |
ISO 9001 2000 |
India |
|
13. |
ISO 14001 2004 |
India |
Apart from this, they have been inspected by several multinational companies from US, Europe, Iran, Philippines and other East Asian countries. They have complied with the requirements of all the above companies’ quality requirements and the contract agreement has been signed for development of products as per their needs.
Their products have been registered in various countries like Philippines, Sri Lanka, Nigeria, Uganda, Tanzania, Ghana, UK and Australia.
OUTLOOK:
Registration process of their products is going on in many countries like Iran, Vietnam, Mexico, Panama, Costa Rica, Ukraine etc.
They have been exporting their products to Forum Products (United Kingdom), South American Express (Bolivia), Medical International Laboratories, (Chile), Laboratorios Recalcine SA (Chile) in the year.
On the domestic front, during the current year, they have done business with a few reputed pharmaceutical companies like Intas Pharmaceuticals Private Limited, Indus Pharmaceuticals Private Limited, FDC Limited, Sun Pharmaeuticals, Cadila Healthcare Limited, Abbott India Limited, Amway India Enterprises Private Limited, etc. They are taking utmost care in initiating business with the companies which have good annual requirements and are ready to pay.
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G62327648 |
100134041 |
HDFC BANK LIMITED |
15/09/2017 |
- |
- |
215000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARG LOWER PAREL W MUMBAI MH400013IN |
|
2 |
G39913488 |
100087313 |
DBS BANK LIMITED |
15/11/2016 |
- |
- |
40000000.0 |
NO.806, ANNA SALAI CHENNAI TN600002IN |
|
3 |
C05406889 |
10496493 |
DBS BANK LIMITED |
25/04/2014 |
28/04/2014 |
- |
7000000.0 |
806, ANNA SALAI CHENNAI TN600002IN |
|
4 |
C05088232 |
10413090 |
DBS BANK LIMITED |
28/02/2013 |
28/04/2014 |
- |
23080000.0 |
806, ANNA SALAI CHENNAI TN600002IN |
|
5 |
G38621892 |
10413108 |
DBS BANK LIMITED |
28/02/2013 |
16/01/2017 |
- |
210000000.0 |
806, ANNA SALAICHENNAITN600002IN |
|
6 |
B81521197 |
10034009 |
INDIAN OVERSEAS BANK |
26/12/2006 |
30/10/2012 |
01/08/2013 |
362500000.0 |
C & IC BRANCH, 98A DR. RADHAKRISHNAN SALAI MYLAPORE CHENNAI TN600004IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.53 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHK |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.